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Sell An Estate ’ s Collectibles The Right Way
Understanding how to navigate this market is essential for wealth managers and their clients .
By Matthew Erskine
AFTER YOUR CLIENT DIES , ONE OF the biggest challenges the family will face in settling their estate is deciding what to do with their personal physical property , including their collectibles — items the heirs might not want to keep . These items could be donated , consigned or sold . There are many diverse platforms for selling , just as there are many types of collectibles , and wealth managers and their clients will have to choose the right outlets to accurately assess the value of these items and avoid pitfalls .
The choice of platform will depend on the item , the seller ’ s experience , and the effort they ’ re willing to put into the process . Here are some of the most popular platforms and their key features :
1 . eBay : A global marketplace with a vast user base , eBay is ideal for selling a wide variety of collectibles . It charges a listing fee of $ 0.35 ( after 250 free listings ) and a final fee of 13.25 % plus $ 0.30 per order .
2 . Etsy : Known for unique and vintage items , Etsy attracts buyers seeking one-of-a-kind collectibles . The platform charges a listing fee of $ 0.20 and a final fee of 6.5 %.
3 . Amazon : Although better suited for new products , Amazon Handmade competes with Etsy for handmade items . It offers no listing fee for up to 1.5 million items ; the final fees vary by category .
4 . Facebook Marketplace : Ideal for local sales , this platform is user-friendly with no listing fees and a 5 % fee per sale or $ 0.40 .
5 . Heritage Auctions : Best for high-end and rare collectibles ,
Heritage Auctions attracts serious collectors and investors , with fees varying by commission .
Specialty platforms also cater to specific collectibles — for instance , Gem Rock Auctions for gemstones , CoinsForSale . com for coins , and ComicsPriceGuide . com for comic books .
Accurately Assessing The Value Of Collectibles
The key to maximizing returns on your collectibles is getting an accurate valuation . For high-value items in clients ’ estates , professional appraisals are recommended and often required , though they can be costly . For other items , such as kitchen appliances , dinnerware and lower-value artwork , there are several online platforms that provide comprehensive databases and tools to research auction prices and market trends :
• Artprice . com : This site offers access to millions of auction results indices and analyses from 7,200 auction houses worldwide , covering over 848,500 artists .
• LiveAuctioneers : This site provides a free database with 29 million auction results for various collectibles dating back to 1999 .
54 | FINANCIAL ADVISOR MAGAZINE | OCTOBER 2024 WWW . FA-MAG . COM